Local expectations hypothesis (LEH)

Local Expectations Hypothesis

A theory that bonds identical in every way except the length of maturity will have the same rate of return over a holding period. That is, if an investor buys the same amount of two bonds, each paying 5% interest payable twice per year but with one having a maturity of 10 years and the other 15, the investor will receive the same return from each bond if he/she holds both for the same amount of time. This is because the coupon payments are identical for both bonds, and coupons form the bulk of a bond's return.

Many times when I returned from my Search to this Temple, which has always been a nest to me, there came one seeking Enlightenment - a man from Leh - that had been, he said, a Hindu, but wearied of all those Gods.

The government's focus in the flash flood affected Leh town was on the restoration of road link and telecommunication for which Border Roads Organization and BSNL were working round the clock," he informed the House.

The notices, issued following the recommendations of a committee constituted to deal with the encroachers, are aimed at removing illegal constructions and encroachments along the Leh especially from the slum area adjoining the Gulistan colony, official sources in the Commissioner Office informed.

Six civilian doctors, who had come on holiday to Leh, are toiling shoulder to shoulder with the army surgeons and doctors to treat hundreds of the injured and have already carried out 22 lifesaving surgeries.

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